Software maker Oracle cleared the final regulatory hurdle for its pending $28.3 billion acquisition of Cerner, Fierce Healthcare reports. The deal is set to close next week.
Oracle said it obtained the required antitrust approvals for the deal, including European Commission clearance. The company expects to complete the tender offer following the expiration of that offer at midnight Eastern time on June 6.
The all-cash deal values Cerner at $95 a share. The transaction, announced in December, is Oracle’s largest acquisition ever and one of the largest takeovers this year.
With this deal, database giant Oracle is pushing deeper into the healthcare market, and the acquisition should help the company scale up its cloud business. Healthcare is a $3.8 trillion market in the U.S. alone, and the company plans to expand Cerner’s business into more international markets. Read more.
